The One Really Big Issue . . .

[bravesfan Member Find all posts View Profile Close bravesfan]

based on the number of your topics basically posting on the problems of timesharing and the world in general I would think there is really more than one big issue.

[bravesfan Member Find all posts View Profile Close bravesfan]

It is not by accident that the industry is organized with developers v. HOAs and Exchange Companies v. Affiliates, so that all can deny culpability for just about everything. In 20-plus years I can't remember once that any group said, "That was us. Sorry!"

That is why I say there being no exit strategy is a failing of the industry, not the resort, or something like that.

But, then, I have already posted that the HOA has the Power and Duty to do just about anything they deem necessary that is in the best interest of all the owners. Just because the docs do not say they can own weeks (take them back), does not mean they can't, on behalf of all the owners, and forego the heavy expense of collections and foreclosure litigation.

Or, dissolve units and sell them off.

But, then, you knew that.

a quick google search foudn this article about how "simple" it is to disolve a timeshare.

Dissolution of Your Homeowners' Association (HOA) - Lawyers.com

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

based on the number of your topics basically posting on the problems of timesharing and the world in general I would think there is really more than one big issue.

That's the purpose of this thread, to say that all that other problems associated with timesharing pale in comparison to this one.

This is the one that even those who not experience any of the other problems will eventually experience.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

a quick google search foudn this article about how "simple" it is to disolve a timeshare.

Dissolution of Your Homeowners' Association (HOA) - Lawyers.com

Thanks for the effort, but that is not the dissolution called for.

Let's say I'm visualizing a partial dissolution, a reduction in the number of units to a level to accomodate the owners who wish to continue and those who do not wish to continue.

There would still be an Association.

The reverse of when the developer added units and turned them over to the Association.

[bravesfan Member Find all posts View Profile Close bravesfan]

•As a general rule, 80% of the HOA members must vote in favor of dissolution. However, your HOA's governing documents can call for a larger percentage of the votes. In addition, if the community or project is non-residential project, the HOA documents can call for a percentage lower than 80%
•There must be a termination agreement that that is signed by the members who approve the dissolution, and the agreement must be recorded in the local land office, such as the county recorder's officeIf the community or project has units that have horizontal boundaries only, like a high-rise building, the unit owners may be required to sell their units upon dissolution, even if they object to the dissolution or sale. However, if the project contains any units which do not have horizontal boundaries, like single-family homes, then the termination agreement can't force dissenting unit owners to sell their units unless the HOA's governing documents specifically state otherwise
•The HOA can enter into a contract for the sale of HOA property, but the contract can't be enforced unless it's approved by 80% of the HOA members, or any larger percentage that's specified in the governing documents
•If the HOAs common property is not going to be sold, the common property goes to the individual HOA members, unless the community or project consists of high-rise buildings (buildings with horizontal boundaries




Seems like there would be lots of legal risks for an HOA to try this. JLB, perhaps you own unit 1 in week 49 and 50. how could you back out and not affect all the other owners?

[bravesfan Member Find all posts View Profile Close bravesfan]

Thanks for the effort, but that is not the dissolution called for.

Let's say I'm visualizing a partial dissolution, a reduction in the number of units to a level to accomodate the owners who wish to continue and those who do not wish to continue.

There would still be an Association.

The reverse of when the developer added units and turned them over to the Association.

I own one fixed unit/week and one float resort. Even the float probably has a unit/week attached to it at the deed level. I don't think it is legally feasible and as a property (timeshare owner) I am sure I don't want to have the maintenance on a resort built for 50 units sold as timeshare units being paid for by 30 timeshare units.

You can't cut the pool in half
You can't decrease the check-in area
etc. etc. etc.

What would you propose one would do with the newly unwound timeshare units?

if you are so sure it can be done hire a lawyer and get him working. I would help pay for his/her costs after you win!@

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

[QUOTE=bravesfan;490419]

Thanks for the effort, but that is not the dissolution called for.

Let's say I'm visualizing a partial dissolution, a reduction in the number of units to a level to accomodate the owners who wish to continue and those who do not wish to continue.

There would still be an Association.

The reverse of when the developer added units and turned them over to the Association.[/QUOTE

I own one fixed unit/week and one float resort. Even the float probably has a unit/week attached to it at the deed level. I don't think it is legally feasible and as a property (timeshare owner) I am sure I don't want to have the maintenance on a resort built for 50 units sold as timeshare units being paid for by 30 timeshare units.

You can't cut the pool in half
You can't decrease the check-in area
etc. etc. etc.

What would you propose one would do with the newly unwound timeshare units?

if you are so sure it can be done hire a lawyer and get him working. I would help pay for his/her costs after you win!@

Search the deedback thread.

Thanks.

Yeah, lotsa folks normally tag along after someone else cuts the trail.

[easyrider Senior Member Find all posts View Profile Close easyrider]

. . . that is standing in the way of timesharing being what it could be is no exit strategy.

We can talk forever about value, and accomodations, and econmics, and resales, and sleazey sales tactics, and trading power, and points and weeks and minisystems, and escalating fees, and the myriad of negativity associated with timesharing.

But, the one big thing, the one thing that really matters, is that when anyone is done with theirs, not only is it not worth anything . . . not only can they not give it away . . . but they either have to keep paying for something they do not need, or endure the consequences of just not paying any more.

Solve that problem, and most of the others will go away, probably including JLB.

People will get creative and figure out ways to get rid of their unwanted timeshare. There are ways to seperate your good assets from the losers.


FICTION or is it ?

Maybe in the near future, some guy will figure that if you want me to buy your timeshare for a dollar, you need to pay 3 years mf plus closing costs and donate $2000 to a vacation club. This would get this timeshare out of your name and into his llc or trust.

Now he is stuck with all of these vacation weeks to rent or use, so he decides to go timesharing for a few years. When he can no longer pay the mf he either goes bankrupt or insolvent and starts over colecting timeshares again with his new llc or trust.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

... I am sure I don't want to have the maintenance on a resort built for 50 units sold as timeshare units being paid for by 30 timeshare units.

You can't cut the pool in half
You can't decrease the check-in area
etc. etc. etc.
....

But you will have less utility costs, less supplies cost and less wear and tear and an empty unit for a week (or more) in which to resolve any maintenance issues.
While I don't advocate having non-performing units- it is going to happen from time to time. Don't jump to a conclusion that the lost total MF has to be completely made up by performing units.

[Laurie Senior Member Find all posts View Profile Close Laurie]

For folks having a hard time giving them away: have you tried Craig's List in major urban areas within a couple hours drive of the TS?

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

For folks having a hard time giving them away: have you tried Craig's List in major urban areas within a couple hours drive of the TS?

Like this?

orlando vacation rentals classifieds - craigslist

ft myers / SW florida vacation rentals classifieds - craigslist

springfield, MO vacation rentals classifieds - craigslist

washington, DC vacation rentals classifieds "williamsburg" - craigslist

[Ridewithme38 Senior Member Find all posts View Profile Close Ridewithme38]

Like this?

washington, DC vacation rentals classifieds "williamsburg" - craigslist

Wow the prices are ridiculous on the Williamsburg link! Do people really pay that much?

[Laurie Senior Member Find all posts View Profile Close Laurie]

Like this?

orlando vacation rentals classifieds - craigslist

ft myers / SW florida vacation rentals classifieds - craigslist

springfield, MO vacation rentals classifieds - craigslist

washington, DC vacation rentals classifieds "williamsburg" - craigslist

I mean giving away the ownership, not rentals.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

My sense of it is that if you could somehow tabulate all of the resale timeshares for sale on all of the sites and sources offering them, plus all that owners want to get rid of but are not doing anything about, yet, that the total would be mind-boggling, much more than the insignificant sum some seem to think it is.

JMHO

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I mean giving away the ownership, not rentals.

Of course you did, and I anticipated that, that you would see those are rentals.

There is not a perfect category on cl for this measurement, say Timeshares for Sale, that I can see. All I know about is Real Estate By Owner.

Had I chosen Real Estate By Owner, since so few would have been timeshares, then I would be dealing with that objection from you. If you search for timeshares under Real Estate For Sale, you get a pathetic understatement of the numbers:

orlando real estate - all classifieds "timeshares" - craigslist

To get a realistic number, you have to search that category by each resort, like Westgate:

orlando real estate - all classifieds "westgate" - craigslist

I chose Vacation Rentals since that gives some idea of excess timeshares in one easy search.

I picked what I felt would be the least of the possible objections to my methodology (as opposed to the issue), and the category best representating the number of unwanted timeshares.
- - - - -
For much the same reason, although I have six weeks I'd like to sell, on cl they are only listed for rent. At this time I see timeshares more rentable than sellable.